Posted December 13, 2013
Last week we posted on a new study showing tremendous economic and energy benefits to opening the U.S. Atlantic Outer Continental Shelf (OCS) to offshore oil and natural gas development. The folks at the National Ocean Industries Association have a video out that captures the study’s highlights in a little over a minute:
The numbers associated with Atlantic offshore energy development are huge:
- 280,000 jobs across the country
- $20 billion annually in industry spending, with activity generating $51 billion in revenues for governments
- Enough oil to fuel 7 million cars per year, enough natural gas to heat 23 million homes per year
Developing this domestic energy reserve would create jobs, boost economies regionally and nationally and generate revenue for state and federal budgets – if federal officials allow seismic surveying to pinpoint the actual resources and if energy-rich areas are included in Washington’s next leasing plan. The case for each is compelling.
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.